Silver Monthly: Exotic Pattern

Aibek Burabayev - Contributor - Metals

It’s always such luck to find something when you really need it. I didn’t update the monthly chart for silver from July as we need to give time to the market for visible changes. I am very thankful to regular readers who comment on my posts and doing so; they give me a feedback with a clue of what you really need or what is your biggest concern. Last week one of the readers asked why I put short term setups with a bullish view. I answered that as long as the market broke above the medium-term downtrend, we can watch the upside. Today I would like to update the monthly chart as it is always better to see once than to read/hear about it many times.

This time I changed the usual order of charts. I would like to start from what we all didn’t see. The exotic pattern was detected, and I am glad to share it with you below. Continue reading "Silver Monthly: Exotic Pattern"

Silver Update: This Cup Should Refresh Bulls

Aibek Burabayev - Contributor - Metals

Code Orange

In my previous post I warned bears to be alert to the changing trend as strengthening signals started to appear for Silver. This month I think the proper code for the current bear market is orange. The orange level requires sellers to be prepared for the anticipated worsening of conditions.

Chart 1. Silver Monthly: Second Attempt to Break Up

Monthly Chart of Silver
Chart courtesy of

I added the Fibonacci retracement level on the chart to show you how deep the silver price drop is. The 78.6% is usually the last level of correction, where most buyers have already jumped out of their long positions. The metal stopped falling right above it. For comparison, gold retraced only 50% of the rise and it has some room for further weakness. Continue reading "Silver Update: This Cup Should Refresh Bulls"

Silver Update: Killing It Softly

Aibek Burabayev - Contributor - Metals

Experiment Results

It's time to check the results of my silver analysis. Back in November, I wrote an update on silver, in the first part of which I made an error analysis session of an earlier post and in the second part I added an experimental clone chart. There were two calculated targets: a price target and the time target.

In December, I was out of patience and was going to write a post once silver hit the price target. But it was crucial to wait until the time came to check both results on the date outlined in my earlier post. Below I've included the experimental clone model chart from my earlier post and added fresh comments highlighted in red to show the results and changes for your convenience.

Chart 1 Silver Weekly: Amazing Math

Silver Weekly Chart
Chart courtesy of

What do we see? Let’s start from the pleasant result. Yes, the price target was hit accurately almost cent to the cent: The $13.65 projected target versus the actual low of $13.63 in December. I was really surprised by this outcome as it strengthens my confidence in the world of numbers. By the way, the AB/CD concept target ($13.7) from my September post has also been hit. Continue reading "Silver Update: Killing It Softly"

Silver Update: Who Shot The Sheriff?

Aibek Burabayev - Contributor - Metals

Silver started October with a long bullish candle. The next day I wrote a post that Silver could reach higher highs, and long positions are favorable from the risk/reward point of view. The metal rocketed more than $1 from the posted price ($15.229), but caught the “bullet” in the sky and fell “dead”.

Below is the reconstruction of my chart from that post to see where the metal reached and what levels were broken back.

Silver Daily: After Crash

Daily Silver Chart
Chart courtesy of

Silver has managed to overshoot the distance of the green ab segment by 0.382 (at 1.382 Fibonacci expansion ratio) and has outweighed Gold’s progress that it couldn’t overshoot. The entire segment has fit into a single month of October from the trough to the peak on October 28th. Gold peaked earlier on October 15th and didn’t make new highs after that. Continue reading "Silver Update: Who Shot The Sheriff?"